Asia Pacific Automotive ECU Market worth over $55bn by 2024
Asia Pacific automotive ECU market is driven by the increasing demand for electric and hybrid electric vehicles and their manufacturing, mainly in China. These vehicles incorporate several types of control units in powertrain, drivetrain, and infotainment systems, that support their efficient performance and enhanced inter-vehicular communication.
Rapid innovations in fuel injection and engine management systems including less fuel consumption and energy efficiency features are further contributing to the development of the Asia Pacific automotive ECU market.
Moreover, increasing government and manufacturer concerns about reducing vehicle accidents and providing enhanced passenger safety are adding up to innovations the systems and components of vehicles including sensors, control units.
According to the Graphical Research new growth forecast report titled ‘Asia Pacific Automotive Electronic Control Unit (ECU) Market’ Size By Capacity, By Vehicle Type, By Mode, By Propulsion Type, By Application, industry Size, Share, Growth Trends & Forecast, 2018 to 2024’, estimated to cross $55bn by 2024
In the Asia Pacific automotive ECU market, passenger cars are witnessing a high demand recently due to factors including an increased population, the rising disposable incomes in countries including China & India. These vehicles are consumed at rapid rates in Asian countries owing to the provision of luxury, comfort, and safety features by OEMs in low & mid-range cars. Such innovations coupled with governments supporting the overall development of the automobile industry in China, Japan, India, etc. are further contributing to the growing industry demand.
Powertrain applications are expected to gain a rapid traction in the Asia Pacific automotive ECU market due to the presence of several automotive manufacturers in this region. Growth of powertrain system activities is attributed to a high demand from the global OEMs and the easy & cheap availability of raw materials in Asian countries.
As a result, the consumption and production of control units by system providers and OEMs are gaining pace. Additionally, powertrain products are deployed in EVs and BEVs due to their limited fuel consumption and energy saving benefits, further creating prospects for the Asia Pacific automotive ECU market growth.
Key companies operating in the Asia Pacific automotive ECU market include Delphi Automotive, Atmel Corporation, Bosch Group, Continental AG, Hitachi Automotive Systems, Lear Corporation, Infineon Technologies, Hyundai Mobis, Texas Instruments, Panasonic Corporation, and ZF Friedrichshafen.
These players have adopted strategies to cover the local and international markets by setting several manufacturing and distribution facilities across various countries. The companies provide application & system-specific control units to offer better functioning and performance of the vehicular systems.
